On Wednesday, the government extended the di-ammonium phosphate (DAP) special subsidy of ₹3,500 per tonne, which was set to expire on December 31, for a further year starting on January 1, 2025.

The decision aims to contain any surge in farmgate prices of India's second most-consumed fertiliser. It is driven by the constant decline of the Indian rupee as compared to the US dollar.

The government also approved the ₹825-crore Fund for Innovation and Technology (FIAT) and extended the crop insurance plan by one year, increasing its five-year budget to ₹69,515 crore.

Later in the day, Agriculture Minister Shivraj Singh Chouhan announced the approval of an MoU for the export of 10 lakh tonnes of non-basmati rice to Indonesia through the National Cooperative Export Ltd (NCEL).

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